Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1887-01-01
The Weekly Intelligencer
0be Ca,,faStfr Jl,tflligenfss
LANCASTER. JANUARY /, ISL.
Lending the Surplus.

II is said that Congressman Scott, Of this
state, intends to introduce into Congress
bill to provide for the loaning of the sur
plus monies in the treasury TO the banks.
As the House has declined to amend the
revenue laws so as to reduce the redundant
txxation, the inevitable consequence will
be the locking up in the treasury of vast
sums which should be in the channels of
trade. Mr.. Scott is staunch advocate Of
the reduction Of import duties as the proper
relief to the treasury; but If he cannot
keep from getting into it more money than
it needs, he proposes, ,as the next best thing,
to provide for lifting it out. 1t seems clear
enough that some measure of phlebotomy
Is needed if the treasury is to continue to
be filed beyond its needs.
Congress does very strange things and
one can never predict that its action in
financial matters will be sensible. A body
that will continue to coin silver dollars to
lie unused in the treasury, cannot again do
anything that is surprisingly foolish in q
financial way. 1t, present refusal to de
plete the treasury by reducing the taxes is
quite as unwise as anything that it has
done. 1t Is due to the fact that the mem
bars cannot agree upon the mode Of the
reduction, which they do not deny should
be made. 1t is not probable that they will
agree to the suggestion of Congressman
Scott, which proves upon its face the folly
Of filling the treasury SO full. The people
will not be content that they shall be taxed
TO provide money for the national banks to
lsnd. Such supply of funds would strongly
stimulate the starting of new national
banks /, and certainly these enterprises do
not seem to be in need of further stimula-
tion. Congress will be more ready TO
spend the money outright to get it into
circulation and it would be better
method. There will be no trouble what
ever in spending all the surplus the
ttS&slry can get. War ships and sea coast
Notifications alone, doubtless, would eat It
Up and there are plenty of rivers with
navigation to be improved, and plenty of
towns that have not yet had postofices
and then there are the telegraph and tele-
phone lines that may be bought for the
postofiice department.
III Congress is unable to reduce the rev.
.olue, 1t certainly should see that 1t Is OK
s,pended. We donot want 1t boarded. The
Atiebt had better be redeemed with it, at
whatever premium, than that the money
Pshould be kept idle in the treasury, or
oIoaned for the use of the banks. II Con.
Issressman Scott really intends TO introduce
pihe latter proposition, it is doubtless rather
with aylew to point the sbsurdity OF the
nrefusal OF Congress TO reduce the revenues
than because he thinks that the banks
vsaould have the handling of the sur.
ltplus funds. Mr.. Scott has shown himself
"a very successful hnancier, and lie Is en-
gagged in large business ventures, which
put him in thorough sympathy with the
business instinct In the country which ab.
nors money stringency. The plan of
pouring out the treasury into the banks
would prevent this but it would create
2 nearly equal danger in the undue stimu.
iallon given to speculation by the redund.
ancy and cheapness OF money.
The national government needs TO leave
The business of the country untouched as
Tar as possible. 1t is a mistake for the
Igoyernment to become lender of money,
and mistake for it to collect more than it
,fpends. If this Congress, with its strong
ssRamoeratic majority, cannot rise to the
riobyious need of the time, it is certainly a
reproach TO the Democratic party,
which it will need to remove in the
Congress, where its majority will be less
or stand condemned by the people and merit
the rejection which they will be likely to
give 1t, We donot believe that the next
Democratic Congress will be as unruly as
this one, which has been too much dis
turbed by the jealousies of leadership. In
the next Congress the need of unity will be
90 clear as to force it, over all personal
ambitions.